President Trump Expresses Openness to Fed Chair Candidates, Including Janet Yellen

President Trump has indicated he is open-minded about potential successors to Federal Reserve Chairman Jerome Powell, whose term ends in May 2026. Treasury Secretary Scott Bessent revealed that Trump has even considered Janet Yellen for the position.

As the search for Powell’s replacement intensifies, the administration is casting a wide net, exploring options that prioritize economic expertise rather than ideological alignment. Bessent emphasized that the focus is on monetary policy, regulatory reform, and organizational efficiency, which has led to speculation about a range of candidates including former Fed officials and economic advisers.

President Trump speaking at a press conference — Trump is considering a broad pool of candidates for the Fed chair position.

Yellen, who previously served as Fed Chair from 2014 to 2018 and as Treasury Secretary under both Obama and Biden, has been publicly critical of Trump. She condemned the firing of a Biden-appointed official over alleged manipulation of employment data, calling it a move typical of “banana republics.”

Throughout her career, Yellen has been a vocal critic of Trump-era policies, especially regarding economic management and deficit issues. She has argued that infrastructure neglect and tax cuts have failed to deliver sustained investment or growth.

Janet Yellen speaking at a news conference — Yellen’s previous roles and statements reflect her critical stance toward certain policies.

Meanwhile, Trump is reportedly considering up to ten candidates for the Fed’s top job, including former officials like James Bullard, Kevin Warsh, and Christopher Waller, as well as economic advisers such as Marc Sumerlin and Kevin Hassett.

In recent months, Trump has been outspoken against Powell for not cutting interest rates swiftly, dubbing him “Too Late Powell.” Additionally, he threatened legal action over the management of a $2.5 billion renovation at the Federal Reserve headquarters, criticizing the project as excessively costly.

Jer Jerome Powell testifying at a Senate hearing — The administration aims to fill two seats on the Fed board, with Trump holding a majority after appointments.

Steve Miran, a member of Trump’s Council of Economic Advisers, was recently appointed to the Fed Board to replace a resigning governor, further consolidating Trump’s influence over the central bank’s composition.

When Powell’s replacement is named, Bessent noted that Trump will possess a majority of the board in Washington, emphasizing the strategic importance of these appointments in shaping monetary policy.